Industry Specific Solutions

Private Equity

CBS supports private equity (PE) firms throughout the entire PE ownership life cycle.

Private equity creates a specific kind of operational pressure. Hold periods are fixed. Return expectations are set at the deal. And the time between close and value realization is shorter than most management teams expect.

Understanding what PE-owned businesses are actually up against at the deal level, portfolio company level, and management team level, shapes how CBS approaches this work.

The PE Operating Environment

PE portfolio companies operate under conditions that most businesses don’t face. Management teams answer to a fund with a defined hold period. Improvement isn’t optional, it’s the basis of the investment thesis. And pressure to show results runs from the portfolio company floor all the way up to the fund’s investors.

Speed is structural, not stylistic. A firm that closes a deal in Q1 and plans to exit in year four doesn’t have the runway for extended transformation programs. The operational work that moves EBITDA has to happen in the first 12–24 months.

At the same time, portfolio companies often carry operational problems that a strategic owner would have addressed years earlier. Process discipline, data quality, cost structure, and management depth are common gaps, and they don’t reveal themselves in financial due diligence.

  • Comprehensive support from pre-LOI to divestiture, we deliver immediate value at every phase of ownership 
  • Industry and M&A-certified experts quickly address key issues and propose solutions using their extensive experience and skill sets
  • Focused expertise because we know what we do best and collaborate as needed when additional skills are required for seamless execution
  • Flexible execution depending on your needs; we can partner with your team or lead projects independently
  • Smooth transitions when new or additional resources are needed to maintain operations and implement corrective actions
  • Industrial Businesses
  • Process Industry
  • Manufacturing
  • Aerospace and Defense
  • Food and Beverage
  • Consumer Products

What PE Firms Are Managing Across a Portfolio

PE firms managing multiple portfolio companies face concentrated operational risk. One underperformer can drag returns across an otherwise solid fund. Common pressure points:

  • Post-close execution risk — The first 90 days after acquisition are the highest-risk period. Leadership alignment is fragile, operational knowledge transfer is incomplete, and the improvement roadmap often exists only in the deal model.
  • Management team uncertainty — Acquired companies frequently have management teams that weren’t part of the investment thesis. Determining who can execute in a PE environment (and who can’t) is one of the most consequential early decisions a PE owner makes.
  • Thesis drift — Value creation plans developed during diligence often assume operational capabilities the business doesn’t actually have. The gap between the deal model and operating reality shows up in year-one EBITDA.
  • Exit pressure — As hold periods lengthen or exit windows compress, the pressure to show a strong operational performance intensifies. Buyers run operational due diligence too. A business that can’t demonstrate process discipline will trade at a discount.

Industries CBS Works in Across Private Equity

PE portfolio companies span a wide range of sectors. CBS frequently encounters operational challenges in areas such as:

  • Industrial businesses — capital equipment, engineered products, B2B manufacturing and services
  • Manufacturing — discrete and process, across a range of end markets
  • Process industries — chemical, oil and gas, food and beverage
  • Aerospace and defense — OEM, Tier 1 and Tier 2 suppliers
  • Consumer products — branded and private label, domestic and import-heavy supply chains

The operational challenges differ by sector, but the underlying pressure to move fast, show results, and build something that holds is consistent across PE-owned businesses.

Private Equity Consulting Services

CBS provides operational consulting to PE firms and portfolio companies across due diligence, post-acquisition integration, value creation, and exit readiness.

Private Equity Consulting
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“CBS delivers measurable results with integrity and compassion, becoming a trusted partner in driving value creation across every phase of ownership.”

Andrew D. Zacharias, CFA

Partner LKCM Headwater Investments